Stocks continue to decline in October
October 16, 2008 by admin
The stock market continued marching lower as news out of the most recent factory order survey, following up a grim report out of the retail sales market has pushed investors confidence lower. The market which is down over 22% for the month of October continues to deal with a number of critical issues.
There are some reasons to be optimistic. The credit markets have shown three straight days of slight improvements to the LIBOR rate. This is a good sign that the credit markets and interbank lending is starting to improve. There is also growing speculation that the U.S. will soon roll out another government back stimulus package aimed at spurring growth.
There are a number of companies that have reported earnings that have topped analysts forecasts, including sunpower & united technologies, and most importantly have stood behind their growth forecast for the next year, a clear indication that the markets may be soft in areas but their is still future growth ahead.